New coal mine “shovel ready” to meet spiralling prices
Bowen Coking Coal has won the final approval for the Broadmeadow East coal mine project in central Queensland, just as prices for the commodity soar.
Bowen Coking Coal said the mine was "shovel ready''.
The company said the Government had approved an amendment to the existing environmental authority for the project 25km north east of Moranbah.
Broadmeadow East would be a short term, open cut mine with a resource estimate of 33 million tonnes.
Studies have indicated a run of mine production of target of 800,000 tonnes to 1.1 million tonnes 0ver a five-to-seven-year period.
It would form the first pit of the expanded Burton Complex, which includes the Burton coal mine and the New Lenton project.
Managing director Gerhard Redelinghuys said the approval granted by the Government provided momentum to the company as it transitioned from developer to producer.
“The approval render the project shovel ready at a time when coking coal prices are rallying to record highs,” he said.
“We are in the final stages of mining contractor selection process with a target of first coal production from Broadmeadow East in the June quarter to be processed through the Fitzroy infrastructure.”
The company’s Bluff mine was on track for first coal in coming weeks and the company expected to be producing 5 million tonnes of coal by 2024.